I retired from my military service and all I had my retirement money until I met Charlie Choi who took away everything. I visit church regularly and in December, a friend of mine who usually accompanies me to the church, told me about the company, Pacific Wealth Management which was looking for investors. He told that the representative will be meeting us on Sunday at the Church. That was the first time when I met Charlie Choi.
He introduced us to the company and the services it offered. They dealt in real estate and were planning to invest in the Riverside Country’s. He also showed us graphs which stressed on the fast growth of the locality and how it could become an ideal market to invest in coming future. The prospects according to him were huge. He presented example of Mr. Hernandez who was a fellow church goer and had managed to attain a second mortgage on his home. He invested the amount in the real estate. The pacific wealth management was paying his mortgages while he earned gigantic bonuses from his investments. The company was also paying him bonuses for the members he introduced.
It sounded like a pyramid scheme but Charlie made sure he cleared all our doubts. He told us that the relationship will depend on trust and to invest and earn profit we needed to rely on his guidance.
He told us that the money that we will invest will be used by the company to buy houses around. Then, they would cash the amount at a higher price. He also assured that because we would be putting our retirement amount, the company will provide monthly interest on the amount. He was convincing.
For few months, everything seemed perfect. He took us to see some properties that according to Charlie were the right property to buy. We were all convinced that the money was rolling in and the mortgages were paid on time. Once, I was invited by Pacific Wealth Management to introduce the plan to others in their next church visit. I couldn’t make it though.
After few months, he called everyone who had invested from the church and asked us to take the mortgage against our house. He told us that the company would cover all the differences. Because we were paid monthly, we agreed. We signed a deed for the same.
For next few months, the mortgages were made timely. We got a call after few months from the bank about the pending mortgage amount. We called Charlie and he told that he would be making the payment that day itself. He did not do it.
That was the last time he took my call. After that I never got hold of him. He ran away with our money and we were left with mortgage. We have filed a case but there is nothing we can do. He has the signed document where the houses are on his name.
It is still a long way to go.